ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up before the market opened on Thursday. The stock had previously closed at $36.48, but opened at $38.22. ProShares UltraPro Short QQQ shares last traded at $38.2520, with a volume of 13,173,484 shares traded.

ProShares UltraPro Short QQQ Stock Performance

The stock’s 50 day moving average price is $36.79 and its two-hundred day moving average price is $42.21.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently modified their holdings of SQQQ. Trivest Advisors Ltd purchased a new stake in ProShares UltraPro Short QQQ during the second quarter worth $14,194,000. IMC Chicago LLC grew its holdings in ProShares UltraPro Short QQQ by 267.3% in the first quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after purchasing an additional 588,799 shares during the last quarter. Nwam LLC acquired a new stake in ProShares UltraPro Short QQQ in the first quarter valued at $1,460,000. Beacon Investment Advisory Services Inc. purchased a new position in shares of ProShares UltraPro Short QQQ in the second quarter valued at $46,000. Finally, PayPay Securities Corp increased its position in shares of ProShares UltraPro Short QQQ by 131.4% in the second quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock valued at $82,000 after buying an additional 1,286 shares in the last quarter.

ProShares UltraPro Short QQQ Company Profile

ProShares UltraPro Short QQQ (the Fund) seeks daily investment results, which corresponds to three times the inverse of the daily performance of the NASDAQ-100 Index (the Index). The Index includes 100 of the non-financial domestic and international issues listed on National Association of Securities Dealers Automated Quotation (NASDAQ) Stock Market. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.